Similar Search Results

Overconfidence Can Improve an Agent's Relative and Absolute Performance in Contests

Ludwig, Sandra; Wichardt, Philipp C.; Wickhorst, Hanke - Volkswirtschaftliche Fakultät, … - 2010

This paper suggests a potential rationale for the recent empirical finding that overconfident agents tend to self-select into more competitive environments (e.g. Dohmen and Falk, forthcoming). In particular, it shows that moderate overconfidence in a contest can improve the agent's performance...

Persistent link: https://www.econbiz.de/10008727202

Information Disclosure in Open Non-Binding Procurement Auctions: an Empirical Study

Stoll, Sebastian; Zöttl, Gregor - Volkswirtschaftliche Fakultät, … - 2012

The outcome of non-binding reverse auctions critically depends on how information is distributed during the bidding … process. We use data from a large European procurement platform to study the impact of different information structures … that on the procurement platform considered bidders indeed are aware of their rivals' characteristics and the buyers …

Persistent link: https://www.econbiz.de/10011106292

Searching the eBay Marketplace

Sailer, Katharina - Volkswirtschaftliche Fakultät, … - 2006

from a sequence of eBay auctions. First the aspect of bidding in a marketplace environment is developed. Form the simple … a "reservation bid" for low-price auctions. Extending results from the empirical auction literature and employing a …

Persistent link: https://www.econbiz.de/10005121206

Zuschlag erhalten, aber Verlust gebucht - Gefdhrdet der Fluch des Gewinners auch Kapitalmarktprofis?

Hehn, Elisabeth; Sadrieh, Abdolkarim - University of Bonn, Germany - 1999

Zwei Experimente mit Entscheidungstrdgern aus der Praxis des Finanzmarkts sind durchgefuehrt worden, um die Frage zu klaeren, ob es Umstände gibt, unter denen der Fluch des Gewinners auch Kapitalmarktprofis gefdhrdet. Die Antwort ist ein klares "Ja". Der Fluch des Gewinners schlug nicht nur im...

Persistent link: https://www.econbiz.de/10004968226

Fairness, Adverse Selection, and Employment Contracts

Siemens, Ferdinand von - Volkswirtschaftliche Fakultät, … - 2005

This paper considers a firm whose potential employees have private information on both their productivity and the extent of their fairness concerns. Fairness is modelled as inequity aversion, where fair-minded workers suffer if their colleagues get more income net of production costs. Screening...

Persistent link: https://www.econbiz.de/10005649802

Why were FIFA World Cup Tickets so cheap?

Eichhorn, Christoph; Sahm, Marco - Volkswirtschaftliche Fakultät, … - 2007

We examine the pricing decision of a multi-product monopolist in a two-sided market where the type structure of buyers on one side of the market is an important determinant of profit on the other side. In this situation it might be optimal to set prices below the maximum sellout price and to...

Persistent link: https://www.econbiz.de/10005649820

A Learning Approach to Auctions

Monderer, Dov; Hon-Snir, Shlomit; Sela, Aner - University of Bonn, Germany - 1996

We analyze a repeated first-price auction in which the types of the players are determined before the first round. It is proved that if every player is using either a belief-based learning scheme with bounded recall or generalized fictitious play learning scheme, then for sufficiently large...

Persistent link: https://www.econbiz.de/10004968224

An Experimental Test of Precautionary Bidding

Kocher, Martin G.; Pahlke, Julius; Trautmann, Stefan T. - Volkswirtschaftliche Fakultät, … - 2010

Auctions often involve goods exhibiting a common knowledge ex-post risk that is independent of buyers’ private values … bidding with data from the field seems almost impossible. We conduct experimental first-price auctions that allow us to …

Persistent link: https://www.econbiz.de/10008532007

Aspiration Adaptation Theory

Selten, Reinhard - University of Bonn, Germany - 1996

Aspiration adaptation theory (Sauermann and Selten, 1962), not available in English up to now, is a general model of non-optimizing boundedly rational behavior. The theory is presented in a more formal fashion than in the original paper. Moreover, the presentation is complemented by remarks on...

Persistent link: https://www.econbiz.de/10004968260

Minimum Wages and Relational Contracts

Fahn, Matthias - Volkswirtschaftliche Fakultät, … - 2014

The need to give incentives is usually absent in the literature on minimum wages. However, especially in the service sector it is important how well a job is done, and employees must be incentivized to perform accordingly. Furthermore, many aspects regarding service quality cannot be verified,...

Persistent link: https://www.econbiz.de/10010768961